Do you know about micro accounts?Why do you say it's a joke. I think it is a sensible attitude to trading. If people can't trade profitable, better they lose $20 on a micro acc than $20K on live

I was trying to express a similar sentiment. Those accounts exist and people do use them, for training if not for anything else.

Yeah... For something else too. I'm going to open one more micro account for participating in a contest. Why not? I'll invest just $5 or something like that and win up to $3000. Well, just for fun. Just for fun

I'd wish you good luck, but trading isn't a matter of luck, so I wish you success instead.

I fully support newbies who would like to start with $20. I find it as a good approach. They need some time to feel the market and learn trading, so it is better to put $20 at risk than higher amount. During time they can always increase this amount and switch to other accounts

I always believe that you need to focus on the learning aspect than the amount of money invested. It doesn't matter how little money you have. You need to learn the basics and fundamentals of forex trading before investing a large amount of money. You will definitely lose it.

I also think that cent account would be suitable for your $20 initial investment. Just try to develop good strategy on demo account which can bring you 5-10% per month. You will achieve your target of $100 without any problems but it will probably take you some time

With $20, you won't have much room for drawdowns, even if you opened the minimum position size, 0.01 lot.

However with a cent account (google it if you don't know what it is), your margin will be equivalent of having $2000 in your account.

Regards,AJ

It depends on which profit targets you set. You can take high risks and expect high returns or make several low risk trades expecting same profit targets. But remember that transaction costs increase with the number of trades made. That's why I prefer to make only several trades in a month with decent risk taken to save up on costs. Setting SL will help you to keep risk under control.

It is true what Drunkfx has mentioned. Transaction costs needs to be accounted, especially when trading such a small amount. So, you need to have very good developed strategy, which is not allowing too much loss and be very careful with leverage trading

Automate with robo-advisors. When you only have $100 to invest, the last thing you want is large broker fees. ...Invest in Dividend Stocks. ...Invest in short-term cash investments. ...Lend to others. ...Invest in your own personal development. ...Invest in ETFs. ...Index funds. ...Buy individual stocks.

It's pretty hard question to answer. You may start with 20$ but will take time to get 100$. You have to understand that it's 500% of your account. So Bassicaly the newbie have to consider a good money management. Start with 3-5 % of your account on each trade. Always set stop-lose.

Great trading idea from Grobanhosh. I think that you should try it first on a demo account and see how it is going. Since, you are entering market with minimum funds, try to accumulate your profits during time. Grobanjosh, what do you think?